NPC "Ukrenergo" has completed the restructuring of its sustainability-linked Eurobonds. Approximately $135 million in savings will be directed toward the recovery of the energy sector. Energy Minister Denys Shmyhal reported this, according to UNN.
Details
NPC "Ukrenergo" has successfully completed the restructuring of sustainability-linked Eurobonds issued in 2021. The main result is approximately $135 million in savings, which will be directed toward restoring power grids damaged by Russian attacks and strengthening the resilience of Ukraine's energy system
As a result of the restructuring, the total amount of the claim under the Eurobonds was reduced to $494.75 million at 8.6% per annum, with final maturity in 2041. New unsecured bonds worth $395 million were also issued at 8.5% per annum, maturing in 2031. The transaction was supported by holders of 97.49% of the Eurobonds.
According to him, the restructuring will allow more financial resources to be directed toward restoring the damaged grid and will minimize the burden on the electricity transmission service tariff.
To remind you
The Naftogaz Group restructured two Eurobond issues totaling approximately €1.2 billion. The decision was supported by more than 90% of the bondholders of each series.